AML Surveillance Analyst I
Listing reference: capbw_000449
Listing status: Closed
Apply by: 7 December 2022
Position summary
Industry: Banking
Job category: Banking, Finance, Insurance. Stockbroking
Location: Windhoek
Contract: Permanent
Remuneration: TBD
EE position: No
Introduction
The AML Surveillance Analyst is responsible for the efficient identification and monitoring of suspicious activities and transactions in the Bank; timeous reporting of suspicious transactions and activities to the Financial Intelligence Centre; and further assist with money laundering related queries received from Corresponding Banks.
Job description
KEY PERFORMANCE AREAS
Investigation for potential money laundering / terrorist and proliferation financing risks in the Bank.
- Ensure efficient identification and monitoring of suspicious activities and transactions.
- Maintain current understanding of money laundering/terrorist and proliferation financing issues, including policies, procedures, regulations, industry best practice, financial crime typologies and developing trends.
Monitoring of the client screening application (investigation and analysis)
- Monitor and review alerts generated by the client screening system (PEP, Sanctions and Adverse media) and conduct appropriate reviews to facilitate closure of alerts or further investigation/reporting.
Monitoring of transactions screening applications (Local and Cross Border)
- Obtain documentary evidence of suspicious transactions and activities and ensure effective record keeping of suspicious transaction / activities identified and reported to the Financial Intelligence Centre in line with the regulatory requirements.
- Prepare suspicious activity reports (SARs) and suspicious transaction reports (STRs) /Additional Information Files (AIFs), when required.
Review of SDA transactions/ Trade Services Documents/ Business Queries
- Timeous review of SDA transaction above a determined threshold to determine if such a transaction is in line with the financial profile of the client and if adequate documents have been obtained to mitigate the ML/TF and PF risks.
Monitoring of high-risk business relationships
- Monitor the high-risk business relationships and ensure that enhanced due diligence is performed at on-boarding and during the business relationship.
KYC – Correspondent Banking Relationships
- Timely completion of correspondent banking questionnaires and queries; and escalation to management of all correspondent banking issues.
Regulatory Engagement
- Maintain a sound relationship with the FIC and attend to queries as required by the Financial Intelligence Centre and Bank of Namibia or relevant Law Enforcement Agencies (includes execution of intervention orders).
AML/CFT/CPF Training
- Conduct AML/CFT/CPF related training.
AML/CFT/CPF Process Manuals
- Update the Bank’s AML/CFT/CPF Process manuals.
Core Competencies
Deciding and Initiating Action
Adhering to principles & values
Applying Expertise and Technology
Analysing
Learning & Researching
Planning and Organising
Achieving Personal Work Goals and Objectives
Entrepreneurial and Commercial Thinking
Minimum requirements
Experience/Knowledge & Skills
· Minimum of two years’ experience in financial services data analysis. AML Compliance specific experience preferred.
· Strong analytical skills required to organize and analyze multiple, complex data sets as well as strong interpersonal and organizational skills.
· Computer literacy essential.
· Strong database skills, including working with advanced data sets, pivot tables, advanced database and statistical functions and methods.
· Strong technical skills.
· General understanding of marketplace AML issues and AML suspicious activity transaction monitoring systems, data mining/analytical tools, and KYC automated solutions is helpful.
· Strong ability to quickly grasp and understand business unit specific AML risks, develop comprehensive user requirements, and provide recommendations for appropriate automated solutions to mitigate those risks.
Qualifications
- Bachelor’s degree or higher education level.
- Diploma in Anti Money Laundering or related field will be distinct advantage.
- Certification in a professional association such as the Association of Certified Anti- Money Laundering Specialists (ACAMS) would be a distinct advantage.
